king health: Here what to watch for, according to Nine News Australia. SHARE PRICES* Thai stocks slid after the Royal Palace announced that Bhumibol condition was unstable, the first time it had used that phrase regarding the king health.* On Wednesday the benchmark fell nearly 7 percent but ended down 4.1 percent. Now, after his death on Thursday at age 88, the outlook remains murky. The market could be roiled by a sell-off of assets by palace officials or other members of the political elite. It fell 1.1 percent on Wednesday and 0.2 percent on Thursday.* But such gyrations do not compare with the loss in the baht value caused by speculative attacks that triggered a region-wide financial crisis in 1997.ECONOMY ON EDGE* Bhumibol was a constitutional monarch with no formal political role, but was regarded as a unifying figure amid Thailand perennial political turmoil.* Many analysts expect the country to remain calm, as Thais focus on mourning. THAI BAHT* Thailand currency was trading at 35.69 baht to the U.S. dollar on Thursday.
(news.financializer.com). As
reported in the news.
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